Flips in South Jersey

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Hi Everyone, 

I wanted to post a discussion about what kind of deals are here in South Jersey. This deal will be a Flip. I will Post a rental next. This deal is one of the recent ones I have found in South Jersey. 

This deal is in Pitman:

MAO: 71,636

Rehab: 71,176

Holding costs: 2,322 a month

ARV: 215,000 (conservative estimate)

Closing cost BUY: 4,000

Closing Costs Sell: 6,000

Agent Fees: 12,900

Total in: 175,000

Potential profit: 40,000

(120 day project estimate)

This is about the average deal you will find in South Jersey. There are some that range better and a few that might have a tighter profit margin. The key things to avoid in South Jersey in your deal, IF you are not experienced, are Oil Tanks, Mold, and Structural. These issues usually can lead down a rabbit hole if you don't know what to look for when walking through the property.

Let me know your thoughts or any questions you may have!

William Lees Jr

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Hi @Jennifer Vincent,

Welcome to the Real Estate Investing world! It's great to see local investors ready to get deals moving. South Jersey has a lot to offer. It's definitely good to start close to home if you can. If you have any questions please let me know!

William Lees Jr